secwatch.observer — SEC 8-K summary
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Issuer:     LEVI STRAUSS & CO (LEVI)
CIK:        0000094845
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0000094845-24-000027
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Levi Strauss Q1 net loss $11M on restructuring charges; adj. EPS $0.26 beats; raises FY EPS guide
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- Net revenues $1.6B, down 8% YoY; gross margin expanded 240 bps to 58.2% on lower product costs and favorable mix.
- Diluted loss per share of $(0.03) due to $116M restructuring charges; adjusted diluted EPS of $0.26 vs. $0.34 prior year.
- Global DTC net revenues up 7%, with U.S. DTC up 10%; DTC reached record 48% of total revenues.
- Reaffirms FY revenue growth of 1-3%, raises adjusted EPS range to $1.17-$1.27 from prior guidance.
- Project Fuel restructuring charges primarily severance; adjusted EBIT margin declined 200 bps to 9.0%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/94845/000009484524000027/0000094845-24-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/94845/000009484524000027/levi-20240403.htm
  HTML page:      https://secwatch.observer/filing/0000094845-24-000027

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